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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Schedule of Lease Costs Recognized In the Consolidated Condensed Statements of Operations | The Company’s lease costs recognized in the consolidated statements of operations and comprehensive loss consist of the following:
|  | December 31, |
|  | 2023 |  |  | 2022 |
Operating lease charges (1) |  | $ | 1,698,383 |  |  | $ | 1,608,095 |
Finance lease charges: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 32,574 |  |  |  | 28,662 |
Interest on lease obligations |  |  | 7,474 |  |  |  | 8,507 |
(1) | Included in Selling, General & Administrative Expenses.
Schedule of Lease Liabilities by Contractual Maturity | The following is a schedule of the Company’s lease liabilities by contractual maturity as of December 31, 2023:
|  | Operating leases |  |  | Finance Leases |
2024 |  | $ | 1,569,549 |  |  | $ | 38,176 |
2025 |  |  | 599,356 |  |  |  | 38,176 |
2026 |  |  | 443,183 |  |  |  | 15,016 |
2027 |  |  | 72,652 |  |  |  | - |
Total undiscounted lease obligations |  |  | 2,684,740 |  |  |  | 91,368 |
Less: imputed interest |  |  | (252,214 | ) |  |  | (8,145 | )
Total present value of lease liabilities |  |  | 2,432,526 |  |  |  | 83,223 |
Less: current portion of lease liabilities |  |  | 1,416,310 |  |  |  | 33,059 |
Non-current lease liabilities |  | $ | 1,016,216 |  |  | $ | 50,164 |
Schedule of Other Lease Information | Other lease information as of December 31, 2023:
|  | Operating leases |  |  | Finance Leases |
Operating cash out flows from leases |  | $ | 1,585,095 |  |  | $ | 38,176 |
Weighted-average remaining lease term (years) |  |  | 2.18 |  |  |  | 2.40 |
Weighted-average discount rate (%) |  |  | 9.1 | % |  |  | 7.5 | %

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
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